HESTA pledges to low-carbon economy initiative

12 March 2020
| By Jassmyn |
image
image
expand image

HESTA has pledged to support global climate change initative, the Transition Pathway Initiative (TPI).

The TPI is a global asset owner-led initiative that assesses companies’ preparedness to transition to a low-carbon economy.

It provided tools to help investors understand how companies were managing climate change and the risks it posed to their businesses.

HESTA chief executive, Debby Blakey, said the TPI would further inform the investment processes and decisions of large asset owners and provided additional insights to support active ownership activities.

“The finance sector has a vital role to play in supporting the transition to a low-carbon future and the TPI can increase the effectiveness of asset owners’ long-term stewardship activities,” she said.

“Championing a sustainable, low-carbon economy is essential to creating long-term value for our members and supporting a healthier planet and society.”

HESTA is the first Australian investor to pledge and is one of 60 investors globally that represent over $18 trillion in combined assets under management and advice.

HESTA would also join the TPI steering committee.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

11 months ago
Kevin Gorman

Super director remuneration ...

11 months 1 week ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

11 months 1 week ago

Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Co...

1 day 8 hours ago

Demand from institutional investors was the main driver of growth in Australia’s responsible investment (RI) market in 2023, as the industry continued to gain momentum....

1 day 8 hours ago

In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges....

1 day 9 hours ago